Banking giant to lay off 10,000 staff

The banking giant is one of many lenders struggling with a global slowdown and falling interest rates. [AFP]

HSBC is planning to lay off up to 10,000 staff, a report said Monday, just weeks after announcing the resignation of its chief executive and the cutting of 4,000 posts citing a weak global outlook.

The latest losses, mostly in high-paid roles, are part of a fresh cost-cutting drive by interim boss Noel Quinn as the banking titan struggles to adjust to falling interest rates, Brexit and the long-running trade war, the Financial Times reported.